Greenspring Advisors LLC Invests $1.17 Million in International Business Machines Corporation $IBM

Key Points

• Greenspring Advisors purchased 4,172 IBM shares worth approximately $1.17 million during the second quarter. Institutional investors and hedge funds collectively own 58.96% of IBM.
• IBM reported quarterly earnings of $2.93 per share, matching analyst estimates, while revenue rose 1.1% year over year to $17.16 billion but fell short of expectations. The company also declared a quarterly dividend of $1.69 per share, equivalent to a 2.9% annual yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $265.90, although several firms recently lowered their targets. Separately, IBM senior vice president Robert Thomas sold 25,000 shares worth about $5.76 million.

Greenspring Advisors LLC purchased a new position in International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,172 shares of the technology company's stock, valued at approximately $1,173,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Brighton Jones LLC grew its stake in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of International Business Machines by 10.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company's stock valued at $571,000 after purchasing an additional 186 shares during the period. Jump Financial LLC purchased a new stake in International Business Machines during the second quarter worth $211,000. Ieq Capital LLC grew its position in International Business Machines by 2.2% during the second quarter. Ieq Capital LLC now owns 38,617 shares of the technology company's stock valued at $11,383,000 after buying an additional 843 shares during the period. Finally, Vivaldi Capital Management LP increased its holdings in International Business Machines by 11.6% in the second quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company's stock valued at $300,000 after buying an additional 106 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

International Business Machines stock opened at $234.87 on Friday. The company has a fifty day simple moving average of $241.67 and a 200-day simple moving average of $247.13. The firm has a market capitalization of $221.28 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. International Business Machines Corporation has a 52-week low of $199.19 and a 52-week high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting analysts' consensus estimates of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same period in the previous year, the business posted $2.80 earnings per share. International Business Machines's quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th. International Business Machines's dividend payout ratio (DPR) is 59.98%.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of analyst reports. Needham & Company LLC started coverage on International Business Machines in a research report on Wednesday, June 3rd. They set a "buy" rating on the stock. Stifel Nicolaus cut their price objective on International Business Machines from $290.00 to $235.00 and set a "buy" rating for the company in a research report on Monday, July 20th. The Goldman Sachs Group set a $270.00 price target on shares of International Business Machines in a research note on Thursday, July 23rd. Weiss Ratings cut shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, June 24th. Finally, BMO Capital Markets dropped their target price on shares of International Business Machines from $270.00 to $230.00 and set a "market perform" rating on the stock in a research report on Thursday, July 23rd. Sixteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $265.90.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the sale, the senior vice president directly owned 47,800 shares in the company, valued at $11,009,296. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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